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dead. [laughter] melissa: forget about it. all right, now on to a new car that goes 220 miles per hour. only three are going to be made for lamborghini. and they say that they have already been sold. is it yours? >> this is my stripper equivalent. i have an image to protect. melissa: i wrote off the $5000 anything above that. [laughter] melissa: defense with a? >> these are the people who had them in their driveway in their garage. [laughter] melissa: well, one of them is a
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lamborghini item. >> they will go like 1 mile per hour. melissa: another is a mother who is volunteering to help anyone who will give her daughter a job. $500. >> it turns out that she took care of them on for some years and that is the mom reciprocating. >> the girl has to work, she wants her daughter to earn at least $15 per hour. melissa: we just turned the whole minimum-wage debate off, i don't know where she's been to get that job at. >> she's going to get a job. melissa: thank you to both of you for being with us. "the willis report" is coming up
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next. speaking of hello, everyone, i am gerri willis. tonight on "the willis report", markets hitting new highs again today. has the rally on its course. also, president obama green lighting the keystone pipeline it. joe oliver makes his case and you will find out what he thinks about it. and the tsa is back at it again. is this common sense are a big mistake? "the willis report" is on the case coming up next. ♪ ♪ cinema grill. gerri: we have all of that and more coming up.
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another great day for your 401k plan. the dow jones hitting another all-time high. can you believe that? the private sector adding 190,000 jobs in february, beating expectations, and friday is when we will get the monthly jobs report. economists predict this will hold steady at 7.9%. however, there are growing concerns and some of you have even written to meet thing that the federal reserve could all come tumbling down soon. joining out is scott martin. scott, it's great to have you back on the show. gerri: let's get to where we are here to talk about.
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okay be our market strategist tonight. >> this is one of those things where i think that higher prices to get higher prices. you mention it was 401ks. people are starting to get excited about the returns in their stocks. what does that mean? people start putting little bit more money away, they started getting aggressive. gerri: that is what individual investors say. so do you think the market is cruising for a bruising? >> yes, there will be. but those dollars again, the dollars are just starting to come in. which means that i think that we still have a few months of this market against weak economic data. a lot of junk in washington, the market is higher from here.
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gerri: let's talk about ways you could analyze the situation. okay, we look at the s&p 500 higher than allies. now consider the historically high, but the world is changing and the stock is going up. >> you rely on those and the market looks a little rich. but look at housing numbers that have bounced back strongly. household net worth is also down from 2007. wages are pretty much flat. there is enough good things out there that i think are choppy. gerri: you said something interesting in the green room. people typically chase the sectors that were good or bad the last time. what is good and bad here?
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>> some have been blasted. they haven't done anything for anybody since 2000. the problem is that sometimes the last market cycle winners or losers, there is a reason why some are doing well and others are not. gerri: will the market go up or is it going to go down? when you look at a week or a month, when he see the dow jones and s&p 500 doing? >> three-month, six-month, i think the market goes up. at that. lack of time, we could have bad economic data ketchup, stocks getting too hot and heavy, i like it for the short term. >> you're worried about the end
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of the year? >> yes, that is when things get a little bit hot and heavy. individual investors are saying that i have been treading water for four years now. give me 15,000, 16,000, i'm going to make up lost ground. >> which wouldn't be bad. i do think that people have to be careful with regards to don't just put all your eggs in. use that for your 401k money. gerri: scott, it's always a pleasure. it's great to have you on the set. okay, where should you put your money? let's bring in our new guests. full disclosure, i am dealing with this panel. all of you think the market is going higher.
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i will ask how high and how fast. what are you recommending? >> not 100%. every investor has a different allocation. but i do like stocks here and i was on your show last year and i had dividend paying stocks. but i really think the bull market will broaden this. i have emphasized those with financials and investors in particular. gerri: jamie, what do you see remix. >> i think that we will see at least 1600 on the s&p 500 and 15,000 on the dow jones within the next 12 months. i feel also that technology companies -- i think the you look at technology companies that have underperformed and done quite well in this particular market cycle. gerri: okay.
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let's move on to what is really our viewers concern here. in the back of my head i am thinking, where were you six months ago. you are positive, you are upbeat. our viewers are worried that the fed is pumping this market full of liquidity. making this game possible. the stock market is all driven by the fed pumping out money and inflation will catch up and the market will crash again. we are at the top and you're telling me that it's going to go through another tiptop pretty soon? >> obviously the fed has pumped things up somewhat. but if you look at this, that is over 200,000 jobs in the job market is starting to heat up
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and eventually -- gerri: that is the consensus. >> but eventually the jobs will translate into more spending and ceos will be part of this. >> the federal government is standing behind the stock market, say put your money here, put your money at. >> ben bernanke has been fighting deflation for the last five years. buying treasuries, trying to get people to stop hiding in treasuries and that's what the fed wants you to do is to diversify out of these fixed income holdings and they want to promote it and it's working. i have been sort of worried that it wasn't going to work, but it seems like it's finally starting to work. our clients feel better about themselves. gerri: i do think that's interesting. it was your note that said that
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people are spending on their homes, building the kitchen that they want. but that is a different thing than investing in the stock market. is it sustainable at this point? if the fed were to pull the rug out from the market, what would happen? >> i think we have a tough time. i really do. other things as well, companies are buying back their own stock, issuing bonds and that is happening. i did a little bit of analysis for you if we go back to the year 2000 and just give it a percent a year. today the dow jones would be 30,000 700. so we have had a very difficult 14 years in the investors should be conscious going through the summer months, june through september. gerri: what happened the last time? everything. you have to think that given our history of the last decade or
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so, there is another bubble out there that is going to burst. what is the bubble but you are worried about? >> you made the statement the last time that everything fell apart and the earnings were much lower and it was definitely more of a bubble. so i think we have a much more sustainable earnings base here. i think the other thing here is the stock market has doubled with retail investors. >> we still have two more, we are looking at a couple more runs of this. i think we are going to get some consolidation here. we are going to get some
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consolidation. gerri: one trader said that he wants to see the markets go down. >> that would be a healthy thing. that puts more fear into the markets. my clients are fearful. gerri: is this a sign that we are about to get into that phase of the market where things are out of control, the bubble forms, here we are again,. >> no, i don't think so. one point i would say is that household balance sheets and corporate balance sheets are really strong right now it
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matters a lot because investors don't invest in the market, but they invest in companies. what aig is doing is they are doing the lending. most of the banks have exited that business. so i think that they are making smart decision here. gerri: you have been so great was with my questions. i'm just giving you the information. like so many individual investors, trying to make the decision. asking if they can trust stocks again, and you should know that i'm at least 50% in stocks and i always am. thank you for coming on tonight. we really appreciate it and i thhnk you. gerri: coming up tonight, we are not done yet. we are just getting started
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we asked total strangers to wch it for us. thank you so much. i appreciate it. i'll be right back.
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they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. gerri: houses approving a bill to prevent the government from shutting down at the end of the nasdaq. we aren't out of the woods yet by a long shot. it is now to the senate. tertullian is our congressman from oklahoma. you must be the only person on capitol hill working today. >> actually, folks on the house house and senate side of working, but the rest of the
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streets are vacant today, the federal government shutdown. probably 30 or 40 snowflakes became known at one point. it was pretty vicious. gerri: i am amazed you can could find yourself capable of talking and all that. i guess you guys don't have any snow. >> in his reign. all we had all day was rain. we had snowflakes, but none of them stuck. gerri: let's get down to business. housebuilder goes in front of the senate, $982 billion but will the senate do that interview? >> typically the senate, if they're just going to fight like crazy, they make a scene about it before they ever pass out. they were strangely quiet about it for this process. the white house came out and did their standard thing, which was we want a big deal and proposal but did not propose it as well. we came to an agreement here. this gives more flexibility so
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we can be funded through the fiscal year is pretty reprogram some of the money and sequestration to keep the numbers low. gerri: we have a long way to go. gerri: the president is meeting with senators tonight come in the next weeks with house republicans. will there be common ground there? there is heavy criticism of the president for not really trying to negotiate this. how do you think that will go? >> we will see. we did one large meeting in 2011 as well. all the house members came to the white house and at one meeting for an hour. it was fun is a conversatioo obviously can't do much with 240 people. it became a town hall for the president. showing us what his ideas were and we will see what it is again. it's the right thing for the
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white house come the house and the senate come to have some conversation. i wish that would've would happen during sequestration, but it never did. the date that it was implemented was the first time that the white house was visited. rest the time the president campaigned against us. so we need to have a real conversation. gerri: i want to ask you about your bill. you want to create a mechanism where a government cannot go unfunded. how will that work? >> we are going to get the edge and the government shutdown, when we destabilize the economy, obviously it affects our workers and their families. anyone who has a nexus of their families and economies as a whole. if we get to the point where he should have marty passed a continuing resolution were appropriations bill that we haven't done, and automatic extension will happen, but it reduces total government spending by 1%.
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it does that for three months. we don't get it done in the next three months, there is another 1% reduction. so it is an incentive and all the agencies will start saying that we don't want a budget cut, we need to do our job, they want to see that as well the defaults need to go down in. gerri: my preferred methodology is going back to old-fashioned way and there's actually no one who's going to do that. >> the house and the senate makes a little tough. >> commerce one, thank you for coming on tonight. be careful out there, you might get another snowflake out there. good luck. [laughter] >> we have more next. not because of budget cuts, the federal workers got the day off with pay in to the obama administration want their budget cuts to be as painful as
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gerri: the cuts were supposed to be draconian.
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gerri: it turns out that stopping the federal government from spending money is harder than stopping the snow from falling. at snow from falling. at the we saw in washington today. true to form come in the government sent everybody home for a day off with pay. suffice it to say, peter barnes made it into work, as did lots of other people who work for private business. here is why.
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in addition to the snow day, there was spending at the transportation security administration. in its wisdom, the federal government spent $50 million on new uniforms for agents, some of which will undoubtedly be produced in mexico adding insult to injury and then there is this. one of the people with the fancy penmanship, a calligrapher gets paid almost $97,000 per year. this person has two deputies who make nearly as much. mr. president, in these tough times of austerity, have you not
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heard of an invitation system that uses the web? it is considered very 21st century. i am sure the heads of state, well, they wouldn't mind at all. so how can we motivate the president to get serious about cutting spending? what we have to do? well, the republican congressman louie gohmert has an idea that could work. he filed an amendment that would bar the president from traveling to a golf course on the public dime. and the president can't get anywhere without public expense due to public transportation, it is impossible with him to make it to a spending public dollars. this is not the appropriate way to act to draconian cuts and drastic. just in case you're worried,
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just remember tax revenues are expected to rise to $2.7 trillion in debt is 11% higher since the recession started in 2007. don't worry, it's all going to be okay. the sun will come out tomorrow regardless. when we come back, more on the sequester shows just how bad it sings in washington are getting and the tsa changing course on what can or cannot be done. i will give you my take and we will get yours coming up next.
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gerri: the white house has been getting called out for crying wolf on the dire sequestration predictions. but now, a leaked e-mail suggest the federal agency that was obstructing an official to make sure that spending cuts were as painful as possible. with fondness, larry gatlin. great to see you and have you on the show the one i love being here. gerri: let me read you this e-mail. according to this, it is our opinion that however you manage the reduction in spending community to make sure that you are not contradicting what we said the impacts would be. so it's not that the administration is just making it worse. >> the man thought he was a hero and a patriot. as charlie brown prior, he is the hero. the guy that is the head of the agriculture and health
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inspection services. >> there is no end. there is nothing that they won't say. almost nothing that they will not do. >> i think it's preposterous. what a stupid thing. trying to make it look like this. gerri: disputing this version, the reading of the situation, and even so, the tours of the white house for the president says that we are not going to have to resolve the white house. they have the people from their districts come in and take these tours and that makes them mad. at the end of the day, is this crazy, or do you agree that? >> it is crazy to think that we
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have the cut is 2% of something, not even the money on hand, that is to really fix things like love although emerson says, what you are is we are the law, deal with it. >> there is an attitude we can do this because we are right. there is the rule block in this country. >> they won that 5347 and they act like they blew it out in the super bowl. if the longhorns beat oklahoma by 53 to 47, that really is not a blowout. so what ever this parameter is
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absolutely. gerri: i think this last run of headlines it has been a problem. >> we know that some of the politicos, the democrats, they are kind of starting to ease away a little bit. >> i have a few things that i can say in songs. much intelligence can be invested in ignorance when the need for illusion is deep. they need to keep up the illusion that this man and white
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house in this philosophy is doing the right thing, and they are beginning to kind of save sinking ship. >> a real good personality. gerri: a big announcement coming from the tsa this week. not just the brand-new uniform. airline passengers will be allowed to carry knives on the plane. i am not kidding you. granted they have to be small knives, but still, baseball bats, golf clubs and other sports equipment are also going to be allowed starting next month. flight attendants are up in arms, calling this dangerous and shortsighted, saying the tsa is more concerned with the agency convenience rather than safety and 9/11 families are also joining the fight thing that the flat in the face of those who lost their lives on that day. here's what i want to know is
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when did this happen? just when i thought airport security can get anymore ridiculous. here is a question tonight. should knives be allowed on planes? or snakes or baseball bats? avant, but on the right-hand side of the screen, i will share the results at the end of tonight's show. today, understand business, it is the birthday of the oreo. they hit the market and more than 450 billion oreos have been sold in many countries. of all the oreos were lined up come they would circle the earth along the equator 381 times. they would reach the moon and back more than five times.
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this american favorite, march 6, 101 years ago. still coming up, we got my "two cents more" and he says the united states has no choice but to approve the keystone pipeline. and we will have that coming up what's next? he's going to apply testosterone to his underarm. axiron, the on underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied
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gerri: nearly all systems are a bill on the keystone pipeline. everybody except for president obama. americans overwhelmingly backed his approval, hitting a record high at 70%. this after the state department
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shut down so is there any reason for obama not to greenlight the project? our guest joins us from houston for his message for the u.s. thank you for joining us. i have to ask you, you are all over the country talking with the american people. what is your message? >> my message is that canada can be an important and reliable supplier of energy to the united states. of course, a great friend and ally, and we have an excess amount of oil and are, in fact, now exporting more oil to the united states than in other countries combined. some 2.7 million barrels a day of which 1 million comes from
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this area. we see ourselves not only as a reliable supplier, but also a responsible one. gerri: 75% of support the pipeline. so it seems to me that the target for your argument should not be people all over the country, it should be washington and in particular president obama. why are you there today? >> well, first of all, you don't have to view it as a regulatory process, the president will make it his decision. i do intend to go to washington when i have an opportunity to meet the next secretary of energy.
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we will wait for his final approval. gerri: can you afford to say things all in good time? it seems to me that there is some emergence of this decision. >> we certainly would like to see the decision finished in a reasonable timeframe. but we are not in a position to tell the u.s. government wanted to do. we are in a position to lay out the facts and the arguments. the secretary of state said he is moved by science and the facts and that's a good thing. gerri::certainly that is what the state department had this say about this.
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the decision would be environmentally sound, but it wouldn't even impact the rate of development. so interesting stuff there. that they will do this in and environmentally responsible way and last year there were several oil spills. i'm not putting this up on a pedestal. exxon chavez and bp oil were far beyond that. what would you tell people that might be concerned about is still? >> pipeline transport is by far the safest form of transport. it is really the oil that actually leaks. the number is actually 99.996%,
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which is safely transported. that doesn't mean that we shouldn't as an objective for these bills, technology is improving and we have increased by 50% the number of pipeline and we have doubled the odds to make sure that we are aware of the problems in advanced than in respect to maritime safety, there has to be mandatory policy and tugboats and it has to be working in someone. gerri: you know, i have to say that we already have
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2.5 million miles of pipeline in this country. it is not like it's a new thing. we are showing you a picture right now of to the viewers of what it actually looks like. tell us why this is so important. >> let me reinforce your point. in the last seven years, the united states has built a 180,000 miles of pipe. the unapproved portion is only 850 miles. so yes, this is important in the united states. it will displace oil coming in from less reliable countries and an enormous amount of jobs, tremendous economic activity in a lot of revenue to government's. gerri: well, we could use a little economic boost. that is for sure. [laughter] >> thank you so much for coming onto on to the show tonight. we really appreciate your time.
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>> thank you. gerri: coming up next, much more on the plan for the pipeline, including the oil will get through anyway and we will explain after the break.
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gerri: green protesters getting a harsh reality. details are coming up in two minutes
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gerri: our next guest says that a president obama doesn't greenlight the keystone pipeline, it will find its way to the u.s. regardless. >> johny rockefeller was counting on the railroads to move his products from his refineries around cleveland to markets on the east coast and that is just what happened. here we are 140 years later and it's the same story. the keystone xl pipeline, if it doesn't get dull, if the obama administration turned it down, i don't think that they will, the oil from alberta will move into the united states and the canadian market and maybe even the asian markets by train instead of by pipelines. gerri: we will already halt 1.9 million barrels per day. where are all the people who are
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protesting against that. do they even know? >> you know, it is remarkable that they were able to attract some 30,000, maybe 50,000 protesters to sit we are going to block this keystone pipeline. we have to do this to stop climate change. trying to block one pipeline in thinking that that is going to cut or stop oil usage is like shooting the pizza delivery guy to make her die at work. it is a silly notion. >> i'm amazed by this because at the end of the day you are saying that it's going to get here either way. what will be safer for the american people? >> what is safer for the environment is pipelines, of course. railroads tend to have more accidents and it's cheaper to move it.
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they were arrested at the white house just a few weeks ago in an effort to raise publicity on this very issue. canadian national railroad alone. in 2012, the increase of the amount of oil they moved by rail sixfold and they expect it will double again this year. this oil is going to get to market's. gerri: tummy one reason why this pipeline should be built. would he think is the most important? >> well, i think it's economic development, clearly. even before that, time for cheap and abundant and reliable energy and if we can bring in this oil from canada, which is our good friend and neighbor and long-term ally, that makes perfect sense. why would we bring in from overseas? this is our neighbor and has been our friend for, well, since the war in 1812. so why would we say no to their oil? it makes no sense whatsoever. and if you look at the state department report on this issue,
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they concluded that it won't have a big effect on the atmosphere. so with all of the arguments that have been put forward. gerri: robber, it is so great having on the show. we really appreciate it. >> thank you, gerri. gerri: the pipeline will almost certainly help gas prices and though they may have declined for the first time since december, they are at about $3.73. some states more than others charge more for gas and that list is tonight's top five. even though it's one of five states below 350, prices are still up since the start of the year. drivers benefit from 37 cents in gas taxes. and idaho is number four.
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it benefits from being surrounded by states to do. number three is utah. almost always above the national average and now they have new refineries and a new pipeline, and that is keeping prices low. number two is montana at 333. the state has a huge availability of natural resources and gets lots of help from canada. and the number one state is wyoming. they have the second lowest gas tax. we will be back in a moment with my "two cents more". and should not be allowed on planes? that is our question of the day 
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The Willis Report
FOX Business March 6, 2013 6:00pm-7:00pm EST

News/Business. Host Gerri Willis. New.

TOPIC FREQUENCY Us 8, Washington 5, United States 5, U.s. 4, Tsa 3, Canada 3, S&p 3, Gerri Willis 2, Hairr 1, Wilbur 1, Underarm 1, Transportation Security Administration 1, Longhorns 1, Lamborghini 1, Neil 1, Pileachmornin 1, Rachel 1, Emerson 1, Ben Bernanke 1, Charlie Brown 1
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on 3/6/2013